MOMENTUM CONTINUES
ALL TIME HIGHS FOR THE S&P 500what a difference a week makes memory up, software up, hyperscalers upPPI better than expected, rate hike probabilities now at 30% down from 65%we are approaching extreme greed and the vix is at lows of the year which is a time to be more cautiousbut given the july drawdown, it makes sense for there to be an active bid coming back to this market even if it’s not as aggressive as the last rallyespecially with many of these names still down 20-30% $NVIDIA(NVDA.US) earnings in a few weeks will likely make sense of the momentum we are seeing with AI namesSource: amit
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